While the GSEs have been engaging in risk-based pricing for mortgage guarantees since the crisis, very large cross subsidies remain, according to one panelist from the Federal Reserve…
Rick Sharga of Carrington: “Refi volumes will continue to contract, and lenders will have to accelerate their shift towards more purchase business in order to maintain volume.”
As the outlook for originations – especially refis – continues to worsen, more nonbank mortgage firms may consider selling out to larger competitors later this year, according to interviews conducted by Inside Mortgage Finance.
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